Is Your Rental Property Insurance Protecting Your Investment?
Before purchasing a landlord insurance policy for your property here are a few things Steve Sloan from Insure 247 suggest you look for;
Check Standard building and contents insurance will cover a complete loss. Ask for malicious and accidental damage by tenants and theft by tenants. Its worth considering Tenant Default for protection against loss of rental income due to: absconding tenants, prevention of access and your property not being fit for tenants.
And consider your investment properties exposure to flood.
You should also let your insurer know if the tenant uses the property for business or it is unoccupied for long periods.
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